Ill-advised acquisitions, management problems, unnecessary relocations and many other flawed business decisions (or indecisions) have contributed to yesterday's (somewhat obvious) revelation.
This didn't just happen in the third quarter of 2000. It has been happening for several years. Shareholders (and possibly the board of directors) were sleeping. For all of those who lost, my sympathy. If it is any consolation (which I doubt), I am sure the parachutes are in place for those jumping from their corner offices in Indianapolis.